If it is the output results you want, try setting the Edit/Output to file option in Query Analyser.
This gets you a text file with the extension RPT by default. (Unfortunately, this is assicated with Crystal if you have that installed)
You could try getting a little trickier: Force HTM headers into the output and save the file as something.HTM (you need to change the output type from RPT to Any Files)
Example output into an HTML file:
select '<HTML>';
select count(1) from PEOPLE;
select '<BR>'
select distinct FORENAME from PEOPLE;
select '<BR>';
select '</HTML>';
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